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Nov 2020
3:03pm, 19 Nov 2020
18,179 posts
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Bazoaxe
Yeah it’s tricky. We had a colleague a few years back who wanted redundancy and effectively downed tools hoping it would come his way. In the end he had to decide to go.
My problem is there will be a selection process and it’s better to be in the middle ground do they let you go than be the person they want to retain.
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Nov 2020
4:37pm, 19 Nov 2020
10,732 posts
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XB
I retired with short notice and found it difficult to adopt to a new regime. It was probably because my wife was still working and the kids were still at school and I felt that I had to keep to their schedule. When Mrs XB retired we took a long road trip and that worked to break any routines and habits.
I've noticed lately that running/cycling/golfing has become something that I do as part of the day rather than something that I need to get out of the way before the day starts.
Retiring early has cost us financially but has so far given us the opportunity to do stuff while we are still relatively fit and healthy.
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Nov 2020
5:57pm, 19 Nov 2020
46,061 posts
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Lip Gloss
That's our problem I think XB - I only work part-time and finish at 1.30pm but I meet people or do stuff after work that I not really prepared to stop doing just cause OH will be at home unless it was to do something specific.
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Nov 2020
11:54pm, 19 Nov 2020
7,797 posts
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Too Much Water
I’d be interested to hear if anyone has managed to retire early when their pension provision is mostly DC / Money Purchase. It seems a lot on this thread have an element of DB provision which would make their overall position potentially quite strong.
I’m considering a career move into the public sector (with attendant pay cut) to gain access to better pension provision. Aged 39 I’ve largely missed out on the property boom and have a single income (no partner) so I need to be creative if I don’t want to still be working aged 70. I’m also not sure if I will be able to return to work at the level I worked at previously after having had somewhat of a breakdown / collapse in confidence the past year or so, which would mean a lower income going forward.
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Nov 2020
9:50am, 20 Nov 2020
35,185 posts
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Hills of Death (HOD)
Going to London certainly in this pandemic has affected my mental health so I do need to balance out the work life balance. If i could go at 55 I would I would have a good final salary pension and/or lump sum plus AVCs.
The mortgage due to divorce has gone up but I'm looking to reduce all being well should be gone by 57. However work is uncertain at the moment especially as our company have 'borrowed' a few billion of the gov.
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Nov 2020
10:44am, 20 Nov 2020
7,057 posts
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Northern Exile
TRO's post from a few pages back hit the nail on the head for me: Go as soon as you can, you will NOT get those years back. I hung around longer than I needed to because of the lure of a final pay-off (which I got), however if you don't have any liabilities (mortgage, dependent children) then time is more important than money.
As my last workplace role wound down I had a tremendous contracting job offered to me on a plate: £585+ a day within IR35, guaranteed for two years but I turned it down. It would have meant working away from home during the week and working with some proper twats. I decided that life was (and is) of infinitely more value.
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Nov 2020
11:14am, 20 Nov 2020
10,484 posts
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Mandymoo
NE - exactly that
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Nov 2020
11:22am, 20 Nov 2020
18,190 posts
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Bazoaxe
The DC question from TMW was what prompted my question on advice. In theory I could take a significant transfer value and then retire. I ran a quote that to be frank wax too good to be true.
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Nov 2020
1:14pm, 20 Nov 2020
35,195 posts
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Hills of Death (HOD)
When I'm 60 my son will be 17/18 so he can work 
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Nov 2020
2:08pm, 20 Nov 2020
49,908 posts
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Velociraptor
I have colleagues who say they won't be able to retire till well into their sixties. Considering the bad financial decisions I've managed to earn my way out of over the years, I'm wondering what they've done to get in that state.
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Jigs 